Watch out for Apple’s iWatch

Diane is a member of The Motley Fool Blog Network -- entries represent the personal opinion of the blogger and are not formally edited.

In the beginning, there was iTunes. Apple’s (NASDAQ: AAPL) iconic music store was followed by the intriguing iPod. Next came the iPhone in a variety of souped-up versions. The iPad was later introduced. Chatter stirred of an iTV. Now there is word of an iWatch from Apple.

While Apple’s smartwatch won’t be the first (Cookoo Watch, Martian Passport Watch, Nike FuelBand  and Pebble are already on the market), such a device coming from imaginative, innovative and inspired Apple is sure to lure scores of individuals who clamor for the next thing from the singular tech company.

Ever since the hard-hitting, fast shooting, savvy comic book police detective hero Dick Tracy sported a modest smartphone-like watch, the allure of such a device has been palpable. While there have been several attempts to create a wristwatch-like device that is wanted, functional and affordable without being cumbersome, none have become mainstream or desirable.

If anyone can come up with such a device, it’s Apple. Furthermore, Apple is looking for something to wow the masses of loyal followers it has amassed but is on the cusp of losing as some serious competition chips away at Apple’s panache.

The New York Times and Business Insider stocked rumors that an iWatch is in the works and highlighted why an Apple iWatch could be the next big and coveted thing.

The watch would operate on Apple’s iOS platform and would allow for wireless charging. The device would be a slimmer wrist piece compared to others thanks to Apple’s patent for curved glass screens. It would contain minimal buttons because Siri will tackle the most difficult tasks. An iWatch would allow users to sync to their iPhone to the watch. It would eliminate having to type passwords on Apple devices. An alert would sound if the watch deems a wearer may have lost his/her iPhone should the owner move out of range. A mobile payment chip would allow a wearer to pay for purchases via the watch. It would also contain sensors to track calories burned, miles walked and blood pressure. The watch would play music, and act as a remote control with Siri compatibility.

An Apple iWatch looks highly likely given that there have been talks that rival Google (NASDAQ: GOOG) is aggressively investigating making a smartwatch of its own. The company received a patent for its smartwatch with a flip-up display last October.  The Google watch would be able to give directions, display email nonfictions and retrieve product information, according to patent records.

Nike (NYSE: NKE) has recorded robust from sales of its FuelBand, a smartwatch of sorts for athletes, trainers and fitness fanatics. Its somewhat thick and bulky rubber band’s LED display shows distance run, calories burned and heart rate. It’s a great motivational piece for many. For others it’s a distraction. But it has paved the way for similar and more advanced devices.

The Nike FuelBand has others, like Apple, anxious to jump on the wearable computing bandwagon. Some analysts predict that wearable computing devices could eventually replace smarthphones over the next decade.

Apple’s stock has plummeted over the last several months as worries mount its iPhones are falling out of favor. An iWatch could help the Cupertino based company regain some of its swagger and prove it is still is a cutting edge company and not idling away its time.

Time and again, there has been a great deal of talk about and pressure on Apple to reward shareholders with some of its hefty stash of cash (about $137 billion) and to augment its share buyback program as shares have tumbled. A fresh and exciting product would not only be timely, it would also serve investors well.

Time is the most valuable thing that can be spent, and it waits for no one. Once you’ve lost time, you never get it back. Here’s hoping Apple acts timely in getting a great iWatch to the market. The time is right and Apple is the right company to do it.

DianeAlter has no position in any stocks mentioned. The Motley Fool recommends Apple, Google, and Nike. The Motley Fool owns shares of Apple, Google, and Nike. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. Is this post wrong? Click here. Think you can do better? Join us and write your own!

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